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Surgent's Key Partnership and S Corporation Tax Planning Strategies

Start Date/Time
Saturday, November 28 2026 9:00AM

End Date/Time
Saturday, November 28 2026 12:30PM

Credit Hours
4.00

Fields of Study
Taxes

Type
Seminar

Level
Intermediate

Member
$159.00

Non-Member
$175.00

Facility Location
Virtual Learning

Company
WEBIN

Vendor
Surgent McCoy CPE, LLC

Status
Scheduled

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Description

Many of our clients are pass-through entities for which many of the general business strategies are subject to additional limitations. To provide the tax planning strategies for closely held business clients that will bring more revenue, this course focuses on the special concerns and techniques the practitioner needs to thrive in this market.

Designed For

All tax practitioners, both those working in public accounting as well as those in private industry, who are responsible for tax planning for their clients and/or companies

Objectives

Identify the advantages of, and the tax issues involved with, employing one’s spouse
Discuss the tax issues and strategies that may be applicable to the client in employing one’s child to shift income and to avoid kiddie tax issues through earned income
Describe the basis adjustments that are made to reflect LLC operations
Discuss the basis limitation on the current deductibility of losses and the substantial economic effect and built-in gain limitations on how LLC income, gains, and losses may be allocated among members
Explain the concept of a passive activity loss and material participation
Identify what is an activity and when activities are or may be aggregated
Explain the concept of “amount at risk” and to whom it applies
Determine the amount at risk
Distinguish qualified nonrecourse financing from other nonrecourse financings in the context of the amount at risk
Discuss the requirements for a real estate professional, and the effect of a taxpayer’s election to be treated as such for tax purposes
Understand the tax consequences of retiring partners seeking liquidating distributions/redemptions and S corporation shareholders seeking the redemption of their shares Identify who are related parties for purposes of special characterizations of property transactions
Explain how and to what extent the gain on the sale of depreciable property will be characterized as ordinary income
Describe when a loss will be disallowed on the sale of property
Discuss the circumstances in which the sale of property at a loss to a partnership will be disallowed

Major Subjects

Timely coverage of breaking tax legislation
Tax consequences of retiring partners seeking liquidating distributions/redemptions and S corporation shareholders seeking the redemption of their shares
At-risk and passive activity loss considerations
Basis planning
Related party transactions: making them work
Income splitting and shifting with family can create considerable benefits
Sale of ownership interest and NIIT considerations

Prerequisites

Experience with business clients